الجمعة، 18 سبتمبر 2015

Japan's shares surge more than 3% in early trade

Japan's Nikkei surged by more than 3% on opening on Wednesday after the index saw all the gains made this year wiped out on Tuesday.

The benchmark was up 4.56% at 18,221.28 points in mid morning trade after finishing the day down 2.43%.

Investor sentiment was up across Asia after markets in China and the US finished in positive territory.

Tuesday's weak economic data from China has also raised hopes of more stimulus for that economy and its markets.

On mainland China, the Shanghai Composite was up 0.56% at 3,190.35 points - after finishing the day up up 2.9% - while Hong Kong's Hang Seng benchmark was up 2.05% at 21,696.51.

In Australia, the S&P/ASX 200 was up 1.09% at 5,170.90 points, taking its lead from US markets.

Analysts said resource and commodity stocks would also likely continue to buoy the Australian index on Wednesday.

South Korea's Kospi benchmark index was also in positive territory in early trade, up 1.78% at 1,912.14 points. Official data released on Tuesday showed the country's latest unemployment figures for August sitting at their lowest since January this year.

'Sea of green'

Chris Weston from IG Markets said it would be a good news day for markets and that there was a "sea of green on screen in risk associated assets".

"This pick-up in sentiment once again started from a nice move higher in S&P futures during Asia, helped on by some really bullish flow in the Chinese markets," he said in a note.

"Specifically, the H-shares (Chinese dual-listed companies trading in Hong Kong) had its best day [on Tuesday] in months," he added.

"In the Chinese mainland, there has been some focus on headlines on a 50% reduction in personal income tax dividends for larger shareholders, with the idea being to move the market away from short-term and focus on the longer-term."